INDIANAPOLIS (WOWO) — Indiana’s general fund revenue exceeded budget estimates by $97.3 million through the first 3 months of fiscal year 2027, according to the Indiana State Budget Agency.
The state’s general fund collected nearly $5.8 billion from July through September, 1.7% above the estimated $5.7 billion. Collections were $307.6 million higher than during the same period in the previous fiscal year, an increase of 5.6%.
September revenue totaled approximately $2.32 billion, exceeding the monthly estimate by $50.9 million, or 2.2%. However, that was about $2.2 million less than the state collected in September 2025.
Corporate income-related taxes were among the strongest revenue sources compared with estimates. Collections totaled $329 million through September, $70.2 million above projections, or 27.1%.
Individual income tax collections reached approximately $2.06 billion for the first 3 months of the fiscal year, beating estimates by $39 million, or 1.9%.
Sales and use tax collections totaled about $2.96 billion, coming in $8.9 million below estimates. That was still $115.4 million, or 4.1%, higher than collections during the same period last year.
Revenue from riverboat wagering also fell short of expectations, totaling $43.3 million, or $6.7 million below estimates.
The report covers the month ending Sept. 30, 2026, and compares collections with estimates based on the state’s December 2025 revenue forecast.
